Themed “Belt and Road: Corporate Governance in Times of Opportunities”
HONG KONG — The Hong Kong Institute of Directors (“HKIoD”) announced that its annual awards “Directors Of The Year Awards 2017” is open for nominations today. In its 17th year, the Award this year is themed “Belt and Road:Corporate Governance in Times of Opportunities” The “Belt and Road” initiative is one of the greatest blueprints for a 21st century vision. It has enormous development potential and is expected to become an important driver of the global economy in the future. This year is also the 20th anniversary of HKIoD and HKIoD’s hope is that companies and directors can look for new directions in steering management to make sure they are well prepared to embrace the tremendous business opportunities the “Belt and Road” initiative is to bring.
Mr Henry Lai, Chairman of HKIoD, said, “This is a milestone year for HKIoD stepping into its 20th anniversary. While feeling honoured as HKIoD’s chairman at this joyous time, I also see the important responsibilities that comes with my role. Over the past two decades, we have remained committed to promoting and laying down corporate governance standards, and also providing training to directors of companies, with the aim of raising overall governance level of local businesses. The ability of Hong Kong companies to maintain world-class corporate governance, helping to brace Hong Kong’s unique position as an international financial centre, is owed very much to the efforts in the past years of our executive committee and colleagues. Looking forward, we will continue to uphold our long-standing philosophy and keep promoting high corporate governance standard in Hong Kong and, together with the city, march into the next 20 years even more brilliant.”
Dr Kelvin Wong, Immediate Past Chairman of HKIoD and Chairman of 2017 Directors Awards Organising Committee, said, “The ‘Belt and Road’ initiative is presenting tremendous opportunities to Europe and Asia as well as the world. And Hong Kong is well-positioned, in terms of her geographical location and professional expertises, to take on an important role supportive of the initiative and in turn be a major beneficiary. It commands perception and leadership of a company board to grasp timely business opportunities, instead of missing them because the company is unprepared. We hope the award-winning companies this year can serve as examples to their peers in Hong Kong, showing how they uphold good corporate governance and their risk management structure works to help them take advantage of the Belt and Road opportunities.”
Mr Peter Suen, Executive Director of Chow Tai Fook Jewellery Group Limited – the lead sponsor of the Awards, said, “We are very honoured to be Lead Sponsor of the ‘Directors Of The Year Awards 2017’ organised by HKIoD, doing our part to help promote good corporate governance. Best practice principles have always been the pillar of governance in aspects from production and supply chain management to operation and customer experience. Leveraging our vertically integrated business model, we recently brought in a disruptive innovation, ‘Chow Tai Fook T Mark’ diamond brand, along with a new ‘4Ts’ concept – Transparent, Traceable, Thoughtful and Truthful. ‘Chow Tai Fook T Mark’ revolutionises the current industry practice by displaying to customers the life journey of a diamond from its source. The same set of principles is in place to guide the development of our corporate governance framework, and to guide us in managing various issues relating to environmental, social and governance practices, supporting the Group in better achieving sustainable growth.”
Dr Carlye Tsui, CEO of HKIoD, said, “The theme of the Awards this year is ‘Belt and Road: Corporate Governance in Times of Opportunities’. The fact is to optimise corporate governance takes time. In addition to a proven system, the awareness to the importance of corporate governance and cooperation of all stakeholders including shareholders, directors, employees and customers are also very important to achieving the goal. Stepping into its 20th anniversary, HKIoD vows to, as in the past, continue to provide more comprehensive training to members enabling them to keep abreast of market trends and learn and grasp latest governing methods. We will organise ‘Directors’ Conference’ in September and business heavyweights will be invited to share their insights about governance and inspire participants.”
Nomination for the Awards will close on 31 July 2017. The Panel of Judges consists of outstanding business leaders, professionals and regulators in Hong Kong. Director Of The Year Awards 2017 recognises excellence in the following categories:
Company Categories / Director Categories:
1. Listed Companies (SEHK – Hang Seng Indexes Constituents) / 1. Executive Directors
2. Listed Companies (SEHK – Non-Hang Seng Indexes Constituents) / 2. Non-Executive Directors
3. Private Companies / 3. Boards
4. Statutory/Non-profit-distributing Organisations
The selection criteria for winners in the Individual Director Categories include their effectiveness in performing strategic corporate business functions, contribution to board effectiveness, contribution towards managing change, risk and succession, leadership and other attributes and qualities, including continuing professional development for directors, business ethics and other outstanding achievements. As for the Collective Board Categories, judging criteria include board composition, skill mix and competencies of directors, effectiveness in performing strategic corporate business functions, development and implementation of strategic plans and monitoring of performance, managing compliance and accountability, managing change, risk and succession, development of the board, including continuing professional development for directors, effectiveness of board committees and business ethics as well as any other achievements.
The Awards nomination form and related information are available on The Hong Kong Institute of Directors website at www.hkiod.com.
About Directors Of The Year Awards
First launched in 2001, Directors Of The Year Awards were the first ever such Awards organised in Asia. The project has now become an annual project of impact in the community. The objectives are to recognise directors and board of directors for outstanding director practices and corporate governance, to publicise the significance of good corporate governance and to promote awareness of good corporate governance and director professionalism in Hong Kong. Nominations are open to the public. As good corporate governance is vital to all types of organisations, and professional director practices are encouraged from directors in all board roles, the Awards recognise excellence in categories by company types, including listed companies, private companies and statutory/non-profit-distributing organisations, and categories by roles, including Executive Directors, Non-Executive Directors and Boards. For more details on the previous years’ Awards, please visithttp://www.hkiod.com/dya-awardees.html